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Why is Ripple (XRP) cryptocurrency becoming delisted? Several cryptocurrency exchanges have delisted trading of the XRP token this week following the Securities and Exchange Commission's complaint against its developer, Ripple Labs.
Exchanges and finance platforms including Coinbase, and Okcoin said they were suspending trading of the XRP token. Wirex, a crypto-payments firm, and Ziglu, an app, followed suit, according to the blog.
The SEC complaint accused Ripple of effectively running a $1.3 billion unregistered offering with its sales of XRP, which the regulator deemed a security and not a cryptocurrency.
XRP dropped 31% on Tuesday, losing 75% in value since hitting a two-year high in early November, when investors took advantage of a weaker US dollar to pile into cryptocurrencies.
Thanks.
Exchanges and finance platforms including Coinbase, and Okcoin said they were suspending trading of the XRP token. Wirex, a crypto-payments firm, and Ziglu, an app, followed suit, according to the blog.
The SEC complaint accused Ripple of effectively running a $1.3 billion unregistered offering with its sales of XRP, which the regulator deemed a security and not a cryptocurrency.
XRP dropped 31% on Tuesday, losing 75% in value since hitting a two-year high in early November, when investors took advantage of a weaker US dollar to pile into cryptocurrencies.
Thanks.
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